Developing a value for money framework

Value for money (VFM) is an ongoing issue in large, long-term safety programmes. Put simply, VFM is maximised when programmes have a high alignment to government priorities and a high benefit-to-cost ratio. Sometimes, however, these two key dimensions aren’t brought together in an explicit way to assess decisions from a VFM perspective.

We identified opportunities to deliver better VFM outcomes in an existing programme and developed a simple investment framework that evidenced good VFM practices and principles.